After Preparing the Financial Statements for 2011, the Accountant for the Dawson

question 51

Multiple Choice

After preparing the financial statements for 2011, the accountant for the Dawson Corporation discovered that a prior period adjustment had been omitted from the 2009 financial statements. Which of the following is most likely to require correction as a result of this oversight?

• A) Earnings per share as originally computed.
• B) Net income for 2011 as originally reported.
• C) Ending retained earnings at December 31, 2011.
• D) Extraordinary items as originally reported.

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Definitions:

Mortality Rate

The measure of the number of deaths in a particular population, scaled to the size of that population, per unit of time.

Bulimia

An eating disorder characterized by episodes of binge eating followed by behaviors such as vomiting to prevent weight gain.

Dopamine Levels

Concentrations of dopamine, a neurotransmitter in the brain that influences mood, motivation, and reward, among other functions.

Sweets

While not a psychological term, sweets refer to food items that are high in sugar content, and their consumption can affect mood and behavior due to their impact on blood sugar levels and brain chemistry.